Pattaya Property - BEST ADVICE - Things you must know when buying a property in Pattaya
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- Опубликовано: 31 июл 2024
- Pattaya property market is a wide and diverse market. property for sale, property for rent as well as investment opportunities are all here in Pattaya. But who do you go to for advice, who do you trust with your money?
The Buzzin Pattaya Property show is design to answer your questions using the very experiences team of professionals at Cornerstone Real Estate. They have a huge array of experience to draw from having worked in the Pattaya Property market here for the last 18 years.
If you have any questions relating to buying a property in Pattaya, renting a property in Pattaya or any other Pattaya property related question get in touch.
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I just found this video randomly while looking for more Pattaya area investment info. I bought with Cornerstone the end of 2021. Zero problems, answered all my questions, very pleasant experience all around. I'm writing this from my little 1 bedroom condo they helped me with now. :)
Thank you for sharing
hello trev, glad you did this vid, and added the links too mate, its what loads of guys need to watch and make notes of, so hats off to you mate,
Thank you mate
thank you for clarifying things for us , big fan of what you doing here
I appreciate that!
Really brilliant work... you're a gold mine of information. Keep up the great work, truly enjoy the content.
Much appreciated!
Thanks Dav. Its hard to think of topics when you just 'do your job' day in/day out, but I think we have chosen some good areas of discussion and seeing a lot of interaction. A new one on the way shortly
@@CornerstoneRealEstate Would love to hear about the economics of a condo purchase. When all the buyers favor new construction, you really seem dependent on monthly rentals to recoup your investment? Is there a property management scheme to handle the turnover? etc, etc. if the opportunity comes up.
Agree with the point you make Martin about being in a position to proceed immediately.....thats the biggest difference here in Thailand to the Western world for property sales....in Thai you can walk to the land office the same day with the owner and hand over the cash for an updated Chanote and the deal is done..... For me you must find the right location as often if it seems do good a deal then there is sometimes a catch........ The only real deals out there are when a Farang needs to move home as most of the empty Thai houses and land is owned by Bangkok investors or local Thais with money that will never sell low and would rather leave it empty for years as in their eyes the prices only increase year on year.....Keep close to the agents for sure BUT you must give them a really good idea of what you want so they can truly help you...... property and land is not going down here so get in quick :-)
Yeah Martin is one of the good guys. Rather help you than try to make you make the wrong decision
Great advise Martin . It is so quick to own a property in Thailand . when I think it take 8-12 weeks in the uk if you lucky !!!!!!!! Thanks for the info
Martin is a good and very knowledgeable guy for sure.
It's not always 2 or 3 days. Perhaps I should have said "on average" a transfer completes in roughly 1 month. But yeah, much quicker than the UK
Great interview !
thank you
Wow, he really knows his onions. great vid mate, very informative.
Glad you enjoyed, thank you. Yeah Martin is a good guy
:)
Great Info
Thanks
Glad it was helpful!
Thank you. We look forward to many more
Great advice, keep up the good work
Appreciate it!
Thank you
@Lou Greene yes I have
you don't need to jump on it in 24 hours in the current market. take your time and relax there is no issues with supply or deals in thailand in any place right now
Ok
Yay, I like the Buzzin Property show!
Q :
I was wondering if there was some way to double-check that the staff /property management/security personnel
are actually nice/friendly.??
I have travelled to many places and more than once I was greeted politely at first then once I paid the bill everyone became a bit negative.
Or my requests were ignored. Never in Pattaya but I think it would give me peace of mind that all is the same when looking at the condo to when I actually live there. it is a big investment and positive staff is an important factor for me Thanks again!
Am sure Martin can help answer your questions
We definitely know some of the better juristic management teams, who we have ourselves come into contact with. Of course there is no way of completely guaranteeing a long happy relationship as this can break down by either parties fault. Feel free to come in for a chat
The eyesore on Pattaya bay should be a screaming warning of the perils of investment in 3rd world countries.
Pit falls ...maintenance fees..who pays them when the banks repossess..is it down to the other occupiers to make up the short fall ...what if the maintenance company go bust ..is the maintenance fees capped or can it be revued as and when it suits them its a high risk ..best just rent and not have the worry dont think the thai legal system are in your favour......because thay dont give a dam about there own citizens ..so the farangs dont stand a chance
Thanks for sharing
.... you got it right !!
very interesting vlog keep up the good work
Thank you
Thanks Jonny
I live in Australia, say if I bought a cheap condo for 1500000 for example could I rent it out while living in Australia and have the money go into a Thai bank account that I open? Then possibly oneday move into it when I'm older?
Yes mate no problem, if you need any help etc email me 247pattaya@gmail.com
.... y'er a True Optimist .....
Yes mate ,can be done. Because renting period you will pay capital gains in Australia one day when you sell it . Australia knows about your bank account in Thailand and they know you renting for profit. Carefully there.As well there is maximum 180 days stay abroad, from aus. That's if you intending to ever go back to aus. But then you will loose Medicare, rights for pension, they will tax 100% from anything that's yours ,including your family house.
Maybe a vlog on some condos for foreign ownership, below 2 million, bargains & how you can buy from abroad?
Got it
cornerstone.co.th/search-result/?status=for-sale&type=condos&location=&min-price=&max-price=&bedrooms=&bathrooms=&availability=&property_id=&keyword=&feature%5B%5D=in-foreign-name
Here is a link to foreign name condos. It is possible to buy from overseas, and we have been doing this in around 35% of cases this year due to the COVID lockdown. With some great prices available now, people are ready to secure a home for when they can return. Can you pass on your email address so that I can write a detailed reply to you? Thanks Live More Life
Can foreigners open a company Pty Ltd in Thailand without being married? Is there a 50% ownership requirement for a partner? This is to lease land for longer or condos with rental return so the company has an income.
Yes you can own a company
Hi, I am considering buying a house in Pattaya or Huo Hin, I am currently live in the united states but plan to relocated back to Thailand, can you suggest what part of town in Pattaya that I should look into, I like a pool villa that modern about 4 bed and close to town and beach, I am carry a dou citizenship, Thai and American, I see some amazing houses in RUclips but have no idea where it is or is it in a good neighborhood.
Am sure Martin will help you here
Hello Paul. Thanks for the time to write your question. To make it very short and sweet: there are very few nice modern pool villas in Pattaya City at all. You will find a selection on Pratumnak Hill and Jomtien Beach. Most will be around 10 years old, or more. Prices can start from 10,000,000 Baht to upwards of 70,000,000 Baht. East Pattaya has definitely become the best residential area building good quality private pool villas starting from around 5,000,000 Baht upwards. I would be happy to get in contact with you directly. Could you send me an email so I can help be mores specific?
Dual Citizenship ? ..... you got it made Khun Paul , Pattaya has a wide range of possibilities , bargain hard !!
Buzzin Pattaya will show the right way .... don't trust the common real estate agent , they'll sell you a swamp
as Prime Land !!
I hope he also advices not to buy a house with a girl you met in Soi 6 a week ago!
lol, you mean the house that will soon be hers lol
Yeah, I wouldn't advise that at all
.... but ..... but ...... She LOVE ME soooooo much until I die !! ( as a broke farang ? )
I'd hope so too. And even with one you trust for years, I'd advise using a leasing agreement to make sure you won't be ousted if there ever is a problem.
How mutch is the property and land tax on a 9,500,000 house
please contact Martin
I'm 50, a writer and I love paradise. Thailand is looking really good. Every time I look up videos about buying there they all scream don't do it. For what I want to do, I can rent and get a banging place fine and dandy. I have the purchase power to buy outright. Anyway, the be all of it is that I want to retire early and find out if I'm a good writer. Is buying a condo better than renting if I plan on being there a while and using it as my primary residence?
Rent find ya feet and do it mate
I would not bye a condo in.the states let alone anywhere else
Ok
I’ve got a half Thai daughter is it possible for my daughter to own 100% of land and home.?
Yes if she is a Thai National as well
Yea she is thanks for that planning on moving back in August I’ll pop in to cornerstone have a look what’s for sale👍🏻
Under the present " Entry Rules " .... you got yer head examined if you want to buy locally here , whether you
have a trusted life partner or not . The Thai Elite program conditions : B 2.- Million cost plus INVEST
US$ 1.- Million ( B 30.- Million ) in real estate -- bonus : a WORK PERMIT for you .....
2021 ... Real Estate will see a correction ( downward ) -- how much : NO body know .....
WE are Obviously talking about after this pandemic is over long after all the vaccines have been available for a long time you Uneducated dumb ass !
Am sure Marting can clear this up with you as I am way out my depth on this discussion
There is no need for an elite visa, and there is not a requirement to invest US$1-million Baht when doing so. When times are hard, many investors see it as a good time to buy, as there of course some great bargains to be had, and indeed this is happening right now!
@@PREPFORIT Very professional response. Everything I've come to expect.
What about the people that buy condos - off of plan - and the building NEVER gets built? See the towering monstrosity next to Bali Hai Pier for an example. How does a person get their money back from a bad investment such as that? I suggest that it is MUCH better, certainly safer - to simply rent a place to live in Thailand instead of buying. I feel the same way about women - better to rent 'short time' than to 'buy the cow' via marriage.
Hi Ken. I totally agree with you. As you see, I talk about this on the video. I would not advise anyone to choose to buy a condo off plan at all. The risks are too high, and the prices are much more expensive than the 'real' property market. I have always recommended my clients to avoid buying off plan, and will continue to do so as there really is no benefit whatsoever.
Martin is correct, I personally did this, purchased two units and literally JUST scraped my money back "flipping" them 1 month before final payment.
@@CornerstoneRealEstate Imagine the off the plan condo is completed and all the wrong neighbours move in. The day you want out and sell you lose, after years not being entirely happy. Or too many want to get out early and sell below purchase price, or next door are 3 more condo towers being built and you can't even rent yours out because everybody is looking for tenants. The exit considerations in the condo ownership is putting me off. It is likely to sell to foreigners only.
My understanding is that the 49-51% condominium split is a requirement for the condominium as a whole. So, what happens if a bunch of Thai owners go bankrupt and a the active condo fee paying Thai owners reduces - *who do you think is going to make up the difference?* The Thai owners? Pull the other one, mate.
And if that happens, who are you going to complain to? The Thai Condominium Regulatory body to enforce condominium standards? *There is none.*
To say nothing of what your legal position will be when the next junta takes over. Respect of precedent and rule of law only goes so far when coups happen. And Thailand gets one of those with distressing regularity.
These blokes have dodged when asked those and similar questions by the more sceptical community members. The lack of transparency and professionalism seems worrying. Those representing good opportunities rarely need to evade.
Pass.
Martin.... can you respond in this please
To answer your questions in order
My understanding is that the 49-51% condominium split is a requirement for the condominium as a whole. So, what happens if a bunch of Thai owners go bankrupt and a the active condo fee paying Thai owners reduces - who do you think is going to make up the difference? The Thai owners? Pull the other one, mate. - The condo fees are calculated per square metre for each property so it is proportionate for each owner and the size of their property. Trying to answer a question based on 'a bunch of Thais going bankrupt' is ridiculous. Have you ever heard of this happening?
And if that happens, who are you going to complain to? The Thai Condominium Regulatory body to enforce condominium standards? There is none - why is 'a bunch of Thais going bankrupt' going to happen?
To say nothing of what your legal position will be when the next junta takes over. Respect of precedent and rule of law only goes so far when coups happen. And Thailand gets one of those with distressing regularity. - Very true, Thailand has seen a lot of new political parties over my 18 years here, but even during military coups, real estate business is still being done as usual. Nobody has lost their property due to a new prime minister!
These blokes have dodged when asked those and similar questions by the more skeptical community members. The lack of transparency and professionalism seems worrying. Those representing good opportunities rarely need to evade - I hope you can see that I am not trying to evade any 'sensible' question. To be honest, if you are so anti property in Thailand, why even watch the video, let alone post a question
Better to buy a Condo in the Philippines and then travel to Thailand for holidays or as you wish...
Bargain properties, you actually own it and can dip in and out of Thailand as you wish.
£ Vs PHP is amazing at the moment too
Fair shout
You can own a condominium outright in Thailand too. 100% freehold ownership
I didn't find the Philippines to be any better from a cost perspective. And then there's a traffic, poor food quality, delays in everything from food in restaurants to flights... If someone loves Thailand, they need to live in Thailand. The Philippines is just going to piss you off when you're going between the 2. Now, if you have a Filipina wife and you want to build a house, life can be pretty good in the Philippines if you're out in the country. But if you want city living or to party, Thailand wins hands down. And Thailand also has the option to live in the country-side better than the Philippines. I would say the only real drawback to TH is immigration. If you own property for 3 years though, it's not quite so tough with visas and such.
put all sharp things away ! keep away from high buildings ! ..... IN THE 90s . i got 96 bt to the pound . go and have a lie down bud
Haha knives and wives... enough said
Why ask something and interrupt the guest all the time? So stressful to watch 👊😬 Same in every video 👎👎 In an interview you must let the guest finish one sentence, for god sake.
Lol cheers....
Its called editing no pleasing some people
How will I sleep tonight.... never said I was CNN lol
Am actually sticking up for you saying your doing a good job?
@@Midi12. no you’re not your slagging him off
So you buy a house in a set up Thai company name and then have tax returns to complete forever more. No thanks. Just rent
Not sure...Martin is best answering this
Hi Colin. The 'balance sheets' for the Thai company are as little as 10k - 15k per year. If a foreign buyer is considering a house purchase, then we see Thai Company being taken when the buyer does not want to put the whole investment in a Thai name. It is very cheap to maintain. Also, in certain "re-sale" circumstances, if the property is already in a Thai company name, then you could be saving $$,$$$ because the directorship transfer costs would be under 20k total, instead of going to the land office to change ownership name which could be between 100k to 400k in normal cases. Many buyers see paying 10k - 15k per year as a more financial benefit. Having said all this, if you are more comfortable to rent then feel free to give me a call and we can go through the type of property you are looking for
It's always a risk to buy a property anywhere, specially in a country where you don't know the language and the law!
?
Martin will answer soon, he may be out the office
Martin and his team can cover language and law comprehensively
Yes of course there are risks in any purchase. However this is why someone like ourselves who have been in the industry for over 15 years and have a full understanding of the laws (and pitfalls), should be consulted as we can help explain everything with transparency
I think you bring up a worrying point that the real estate bods seem to be evading.
Parsing a contract in my native language is difficult enough. I'd be wary of parsing the *translated contract* even more so. What does "reasonable" mean in Thai law, for example? And who's paying the translator?
Getting the documents translated is only the beginning of your problems dealing with a foreign language and a _fundamentally different legal system_ to boot.
" Bargains in Pattaya " ??? in Central Pat : Naaahhhhh ....... the Dark side : Maybe ...... further inland : yes ......
Trusting a local ?? ...... get your wires serviced -- so your brain can function properly .....
hahahahahaha made me laugh cheers ;)
Best advice for buying property ....Don't
Right now is a buyers market as bargains are out there. Better now than when Thailand recovers and all is back up and flowing.
@@Buzzinpattaya they have had 12 military coups in 90 years if you think investing in that kind of climate is a good idea
. caveat emptor would be my advice
Fair shout mate
Rent your women and accomadation short term,and don,t burn your bridges.
@ Ian Stewart ..... You are a " Wise Man " .....
Best advice : don’t buy a property or business actually in Thailand , stay away
?
Why?
Hi. Yes indeed some people may choose to purchase in another country, or not at all, but I can say honestly that there are a lot going for Pattaya that makes this city worth considering. The industrial hubs are now bringing in more families, the U-Tapao airport is under full renovation and the latest motorway extension joins this airport directly to Bangkok.
Dunno, I think you need to change your "stay away" to:
Remember that rewards come with commensurate risk.